Hello I was approached by someone who would like to buy a certain piece of property.

I guess that's off topic though.That is a great piece to make one think, however, I wouldn't do anything to cater to that generation.

Account Closed thank you, all information helps, puzzles pieces being put together at some point.

@Luka Milicevic, thank you so much for that helpful piece of info.

His plan is to buy a piece a land, build several townhouses, sell enough to pay for the rest that will be kept as rentals. 

Another crucial piece of this is knowing what's going on in your city/market as far as population growth, employment, industry etc.

Get some knee pads and safety goggles, of course, to protect against the infrequent errant piece of tile flying up.  

If you purchase a large piece of property and later decide to sub-divide it, you could distribute out a piece from an LLC without incurring a taxable event.

Everyone has covered the owner occ/versus primary residence piece and the county by county millage difference.However the other side of the coin must also be considered in order to evaluate.

Get it under contract and get a wholesale fee or partner with a cash buyer and get a piece of the equity on the back end.